Most Frequently Asked Questions about CFA Course Levels I, II and III

The CFA course is considered the most renowned designation in finance and investment management. If you are looking for a growing career in investment management, this course is going to be your best option. To help you in your career, we have listed here the most frequently asked questions about the CFA course and their answers. 

Let’s check them out!

Q: What is the CFA® charter?

Ans: The CFA Institute is responsible for managing the Chartered Financial Analyst® (CFA) charter. It is the most prestigious and well-known investment management qualification in the world, according to the CFA Institute.

Q: How can I become a CFA charterholder?

Ans: You have to pass Level I, Level II, and Level III of the exam to receive the CFA charter. Every exam advances the mastery shown by completing the prior tests with a passing grade.

Q: Is the CFA charter a degree?

Ans: It’s not a degree, either. This professional certification shows the holder’s proficiency in sophisticated investment analysis and practical portfolio management. Candidates sometimes compare the advantages of an MBA with the CFA charter.

Q: What should you expect from the Level I CFA Exam?

Ans: It is expected of candidates that the CFA Level I exam will be challenging. Candidates should dedicate a significant amount of time to their preparation and plan to use an authorized CFA calculator to complete the 180 multiple-choice questions in 4 hours and 30 minutes.

Q: What is the best study plan for someone who wants to pass the CFA® exam but is also employed?

Ans: Over more than six months of study, it becomes difficult to remember what you initially learned. Less than three hours of study is essentially the same as cramming for a major exam, which rarely goes well. Additionally, you should put more hours into the final month as opposed to the initial one. You are assembling things for the exam day at that point.

Q: What is a CFA®’s usual career path?

Ans: For a charterholder, there isn’t a “typical” professional path. 

However, learning never ends once you receive the designation. The financial sector is always changing; therefore, in order to stay current, you have to keep up.

As your profession develops, you’ll probably move into different fields. One major advantage of being designated as a CFA® Charterholder is that. It gives you legitimacy as you venture into new financial functions because of its value. 

Q: What are some of the best study tips for CFA® exam candidates?

Ans: Too much time is spent by many candidates studying the content, and not enough time is spent studying for the exam. Both must be done by you. Check that you understand the exam’s questioning methodology. That will specify the method by which you must study the content. Due to your time limits (90 seconds for each Level I question), they are not overly involved. Don’t make the questions too hard. Don’t strive to be an expert on everything. Time will run out for you. To pass the test, you do not need to know everything.

Q: Can I reschedule my CFA exam once I’ve signed up?

Ans: Postponing your CFA exam is only possible under certain conditions, primarily those about health. Withdrawing is simpler, but you’ll need to pay the registration fees again and re-register if you don’t do it within three days of enrolling. Candidates should be informed of the various CFA exam postponement guidelines, particularly if they believe they won’t be able to take the test on the planned day.

Q: What qualifications are needed to take the CFA exam?

Ans: An international travel passport is required for everyone who wants to register for the Level I exam and join the CFA Program for the first time. Candidates also need to fulfill one of the following requirements:

possess a bachelor’s degree, or something comparable, or have two years left on your undergraduate degree possess four thousand hours of relevant professional job experience; this experience need not be connected to investments.

A minimum of 4,000 hours of combined full-time professional experience and education may also be required of candidates. The experience and education hours need to be completed before applying to the program. Find out more about the CFA Program’s enrollment criteria.

Q: What differentiates Level I and Level II of the CFA® Exam?

Ans: Your knowledge of the fundamentals of investment valuation is tested at Level I. Level II starts to assess how well you can apply that knowledge in real-world situations. You’ll be asked to apply your understanding of investment management to situations in the real world and your portfolio concept for the exam. 

Q: What is the cost of enrolling in the CFA Level I exam?

Ans: A $450 one-time enrollment fee is required for the CFA Program. There are normal and early registration deadlines offered by the CFA Institute. That means that you will pay $700 for early registration and $1,000 for regular registration.

Q: How long should I study for the CFA Level I?

Ans: Before taking the test, Level I candidates should dedicate at least 300 hours to studying and exam preparation. It’s important to note that there appears to be a correlation between your study hours and your likelihood of passing the CFA level 1 exam. 300 hours is therefore merely a minimum.